Public Sector Pension Investment Board Has $949,000 Position in Dover Co. (NYSE:DOV)

Public Sector Pension Investment Board lifted its holdings in shares of Dover Co. (NYSE:DOV) by 71.4% in the second quarter, Holdings Channel.com reports. The fund owned 5,259 shares of the industrial products company’s stock after purchasing an additional 2,191 shares during the quarter. Public Sector Pension Investment Board’s holdings in Dover were worth $949,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD lifted its stake in Dover by 153.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,633,453 shares of the industrial products company’s stock worth $466,622,000 after purchasing an additional 1,595,611 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Dover by 4.2% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,505,749 shares of the industrial products company’s stock worth $271,702,000 after buying an additional 60,912 shares during the period. Wellington Management Group LLP boosted its stake in Dover by 50.7% in the 4th quarter. Wellington Management Group LLP now owns 1,231,606 shares of the industrial products company’s stock valued at $189,433,000 after buying an additional 414,481 shares in the last quarter. American Century Companies Inc. grew its position in Dover by 162.2% in the second quarter. American Century Companies Inc. now owns 688,249 shares of the industrial products company’s stock valued at $124,195,000 after acquiring an additional 425,768 shares during the period. Finally, Earnest Partners LLC raised its stake in Dover by 31.5% during the first quarter. Earnest Partners LLC now owns 397,145 shares of the industrial products company’s stock worth $70,370,000 after acquiring an additional 95,056 shares in the last quarter. 84.46% of the stock is currently owned by institutional investors and hedge funds.

Dover Stock Down 0.1 %

NYSE:DOV opened at $190.27 on Thursday. The stock’s fifty day moving average price is $182.99 and its two-hundred day moving average price is $180.52. The company has a market cap of $26.15 billion, a price-to-earnings ratio of 18.28, a P/E/G ratio of 2.27 and a beta of 1.22. Dover Co. has a 52-week low of $127.25 and a 52-week high of $194.75. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.95 and a current ratio of 1.53.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, July 25th. The industrial products company reported $2.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.15 billion. Dover had a return on equity of 24.94% and a net margin of 17.58%. The firm’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same quarter last year, the business earned $2.05 earnings per share. On average, analysts anticipate that Dover Co. will post 9.17 EPS for the current year.

Dover Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Friday, August 30th were paid a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.08%. This is an increase from Dover’s previous quarterly dividend of $0.51. The ex-dividend date of this dividend was Friday, August 30th. Dover’s payout ratio is 19.79%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Barclays upped their target price on shares of Dover from $186.00 to $190.00 and gave the stock an “equal weight” rating in a report on Wednesday. Mizuho upped their price objective on shares of Dover from $185.00 to $200.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Royal Bank of Canada lifted their target price on shares of Dover from $192.00 to $193.00 and gave the company a “sector perform” rating in a research note on Friday, July 26th. Wells Fargo & Company increased their price target on Dover from $190.00 to $197.00 and gave the stock an “equal weight” rating in a research report on Monday. Finally, Robert W. Baird reiterated an “outperform” rating and issued a $208.00 price objective on shares of Dover in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $194.00.

Insider Activity at Dover

In other Dover news, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the completion of the sale, the chief executive officer now owns 182,928 shares of the company’s stock, valued at approximately $33,285,578.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Brad M. Cerepak sold 4,341 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $184.59, for a total value of $801,305.19. Following the completion of the sale, the chief financial officer now directly owns 12,324 shares of the company’s stock, valued at approximately $2,274,887.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Richard J. Tobin sold 25,004 shares of Dover stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $181.96, for a total transaction of $4,549,727.84. Following the transaction, the chief executive officer now directly owns 182,928 shares in the company, valued at approximately $33,285,578.88. The disclosure for this sale can be found here. Insiders have sold 45,383 shares of company stock worth $8,169,883 over the last ninety days. Company insiders own 1.30% of the company’s stock.

Dover Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.